HYG Monthly: This is broken. Fed buying junk and it's still broken. Almost back to levels prior to the announcement. pic.twitter.com/aGlP2uL2Gg
— Simply Vertical (@Simple_Trends) April 23, 2020
big gap between $HYG and $SPY #ES_F today, real block sellers of HYG all day as it decouples from equities (perhaps on back of cluster of defaults, latest $HTZ) – but such divergence means one of them is right and the other is wrong looking forward
— Tian (@RealTianZeng) April 24, 2020
I don't think we're talking enough about how the Fed buying high-yield (junk) bonds is a massive bailout to shale oil producers. 40% of HY bonds in the US are shale companies. Fed is basically backstopping their borrowing costs. Ridiculous.
— Tyler Bryant (@tyler_bryant) April 24, 2020
Fed buying junk bonds & unlimited QE
ECB buying junk bonds & corporate bonds & QE
BOJ discussing unlimited bond buying owns virtually all ETFs
Zero to negative rates all of them.
Central banks are weapons of economic mass destruction.
No exit strategy.
— Sven Henrich (@NorthmanTrader) April 23, 2020
Longer term HYG risk proxy and S&P 500 are now back after massive Fed backed move. Interesting that HYG is trending down while Spooz are running higher. Careful peeps. pic.twitter.com/0fvIcnj335
— Gubb (@gubbmintcheese) April 24, 2020
The Coming Default Crisis With Online Loans
— Jonathan Tepper (@jtepper2) April 24, 2020